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| Statement |
|---|
| These orders help strengthen Amprius' position as a premier global battery solution for eVTOL and HAPS application |
| Overall, these awards further underscore the demand for our innovative solutions |
| The company has a strong patent portfolio of over 80 issued patents and pending applications |
| We were also recognize at the recent international battery seminar winning the best-of-show new product award for our SiMaxx 400 watt-hour per kilo cell |
| This is our second consecutive award in this category at IBS as well, as we won last year for our 450 watt-hour per kilo, 1,150 watt-hour per liter lithium-ion cell |
| Amprius' battery command a firm lead with their combination of 50 energy, power, charging time and temperature performance and are uniquely positioned for the electrical mobility market |
| We are working hard to expand our production capacity to meet that demand, and we are confident in the path forward for Amprius |
| First, our product revenue increased by $0.3 million from the prior year period to $0.9 million, largely driven by shipments to 41 customers in the quarter, a second consecutive quarterly record for Amprius |
| Although, our product revenue remains largely driven by customer purchase orders that can arrive at uneven times throughout the year, we have shown consistent new customer growth and diversification in recent quarters |
| We received a very strong feedback from the customers |
| 2023 was a very productive year for the company, and we believe that 2024 is off to a strong start |
| We also successfully secured the SiMaxx purchase order from three premier electric aviation manufacturers |
| Considering our business achievements and ongoing projects, we believe we are efficiently using capital to drive Amprius forward |
| First, Amprius' silicon anode technology continues to demonstrate the unmatched performance in our industry |
| We made a significant progress across each of these areas and are confident that our effort has positioned Amprius to continue executing on its growth strategy in 2024 and beyond |
| The fourth quarter was a strong end of a great year for Amprius |
| We have a tremendous opportunity ahead with a product portfolio that positions us to both growth in aviation market and expand to other industries seeking batteries with leading performance |
| From that, you can see we have already achieved the EV performance |
| Longer term, we are confident that our GAAP gross margin will begin to normalize as we approach our capacity expansion goals |
| When it comes to the battery performance, Amprius silicon anode batteries command a firm leading position in the industry |
| We believe that the introduction of SiCore helps us meet some of the near-term demand |
| Developed in close collaboration with Brazilian’s (ph) formerly affiliated company, we are able to achieve greater manufacturing capacity in the short-term by working with the toll manufacturing partners, which we expect will allow us to serve more customers and bring in additional revenue while we extend our U.S |
| Overall, we believe that 2023 was a highly successful year across our major initiatives |
| 2024, certainly is going to be an exciting year for us |
| First, we set out to further advance our silicon anode battery technology to deliver breakthrough performance |
| Second, we sought new customer wins as we continue to grow our product shipment volume |
| We are confident that Amprius battery can reach unmatched level of performance, and we look forward to trying to expand our performance lead in 2024 |
| We believe that the highest endorsement of our technology are customer orders |
| Early this week, we were named one of the Fast Company's 2024 most innovative companies, largely due to our batteries' advanced capabilities |
| As shown in our recent customer wins and the technology advancements, we believe that no [indiscernible] can commercially offer capabilities that match those of Amprius batteries |
| Statement |
|---|
| Moving to our profitability metrics, our gross margin was negative 162% for the full year compared to negative 128% in the prior year period |
| So I think the margins are still going to be under some pressure in 2024 |
| As we've discussed in prior quarters, we see significant gross margin variation as our product and services revenue mix fluctuates |
| And as a result, our demand far outstrips our supply |
| Our GAAP net loss for the full year 2023 was $36.8 million or a net loss of $0.43 per share, with 86.2 million weighted average number of shares outstanding compared to a net loss of $0.24 per share with $71.3 million weighted average number of shares outstanding |
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